thehousingbubble@gmail.com
Blog

Folks Who Bought At The Top Now Find Themselves Trapped

A report from Bloomberg. “After an abrupt end to the US housing boom, home flippers who were winning big just months ago are now racing to stem losses. It’s a swift turnabout for flippers such as Tammi Merrell, who’s stuck with homes to sell and loans to pay. ‘It’s a high-risk, high-reward business — and now we’re facing the high risk,’ said Merrell, a full-time flipper in the Denver area. ‘I’m just praying for break even.’ By May, Merrell knew trouble was brewing when she had to cut a home price by $20,000 to get the property sold. In August, she lost $8,000 on another house as the market deteriorated.”

“Now she’s got one house under contract, another on the market getting lowball offers and two more in progress that will be finished in the next two months. Losses will grow but even thin margins are a big problem when you’re a full-time flipper, she said. ‘We have hard-money loans with 10% to 14% interest rates,’ Merrell said. ‘It’s a constant dance — do I wait it out or do I price drop? Both cost money.'”

“Phoenix property investor Ben Arredondo has had to slash prices after the slowdown caught him mid-flip on 27 houses. He’s managed to sell most of them but says he expects to lose around $1.3 million — if he’s lucky. ‘I know a lot of investors who are getting hammered,’ Arredondo said.”

The Gazette Journal in Nevada. “The combined median for Reno and Sparks peaked in May this year when it reached a record $615,000. The city of Sparks also reached its highest median home sale price during the same month at $570,000 while Reno peaked a month later in June at $635,000. Reno and Sparks have seen median home prices steadily decline since then, however. By September, Reno was down to $540,000 while Sparks was at $515,000. ‘Savvy homebuyers are finding excellent opportunities among the homes available for purchase across various price ranges,’ said RSAR president Sarah Scattini.”

The New Hampshire Business Review. “The market for single-family homes in New Hampshire is finally slowing down. The median price – $440,000 – is 10 percent higher than in September 2021, but it fell $10,000 from the August, and $20,000 off its peak in May and June. The number of closings is down as well, and they’ve been going down for the last 12 months. In September, pending sales fell 21 percent year over year for homes and 13.1 percent for condos.”

From KTVB in Idaho. “Home prices in Ada County are dropping. Boise Regional Realtors President, Becky Enrico-Crum said because of that increased interest rate, there are more homes available to buy in Ada County. At the end of September, there were 2,420 available listings on the Intermountain MLS, a 93.8% increase from last year. The median sales price was $540,000 in September, according to the press release. That is down $25,000 from August, but still almost 1% higher than last September.”

“‘We have several of those buyers that have been, I mean, they tried over and over again for two years during, you know, all the multiple offers,’ Enrico-Crum said, ‘and they would lose and lose, and now it’s kind of like, alright, now we can actually buy something.’ However, people selling their house might feel differently; they are likely getting less money than they would just one month ago, Enrico-Crum said. She said people who bought their houses this year need to wait about three to four years before they sell to see any substantial equity gain.”

From WhatcomTalk in Washington. “Mortgage Loan Officer Tiffany Bergsma-Evans sat down with WhatcomTalk. ‘Homes are less expensive than they were in the spring. And we are still seeing pricing coming down. There are more homes on the market, fewer bidding wars, and homes are starting to sell at their listing price or slightly under. This means buyers are having some success in negotiating home prices down,’ says Bergsma-Evans. ‘Buyers are also having success with contingent offers, like selling their existing home first to free up funds for the purchase.'”

The Bend Bulletin in Oregon. “In Redmond, the median single-family home price was $525,000 in September, $17,000 lower than it was in August. A year ago, the median sales price was $450,000, according to the report. In Sisters, the median sales price was $590,000 in September, a decline from August when it was $730,000, according to the report. It now takes about 16 days to sell a single-family home in Sisters, and there is about three months of inventory on the market. And in La Pine, the median sales price of a single-family home dropped to $430,000 in September, down about $40,000 from August, according to the report. There currently is about four months worth of supply up for sale, and it takes about 55 days to sell a home in La Pine, according to the monthly report.”

From KXAN in Texas. “More people in Austin are being forced to make a tough decision for their dream home: Pay thousands of extra dollars, or walk away and lose thousands. One local realty company said folks who bought at the top of Austin’s housing market earlier this year, or even earlier, now find themselves trapped in confusing contracts with their builders. ‘With interest rates, the homes are much cheaper,’ said Tim Behe, an agent with Spyglass Realty.’Other homes– same exact floor plans, are actually $50 – $60,000 less, and the builders haven’t been really working with the buyers at this point.'”

“Spyglass said about a dozen of their clients haven’t been able to get into their newly constructed homes on time. They said one client ended up breaking their contract with the builder, and forfeiting their $25,000 deposit.”

The Oklahoman. “‘There still is a decent demand for new homes. Interest rates have caused some slowdown in traffic, but it still exists,’ said Mike Means, executive vice president of the Oklahoma Home Builders Association. Means added, ‘I do not know for certain, but have heard some builders are selling at almost cost just to keep cash flow going, hoping to ride things out. This will hurt in the long run because of how that affects appraisals.'”

The Palm Springs Post in California. “The ‘corrective turn’ we’ve been talking about in the housing market appears to be continuing, according to the Greater Palm Springs Realtors. Across the Coachella Valley, the median price for a detached home fell by about $12,000 to $670,000 in September.  ‘There is no doubt price increases are starting to slow,’ the report states. One of the most staggering signs of the turbulent housing market over the past year was the number of homes selling above list price. Last month, 28% of sales were above list price compared to more than 50% this time last year.”

The Globe and Mail in Canada. “2925 17 St. SW, Calgary. Asking price: $774,900 (June, 2022). Previous asking price: $799,900 (April, 2022). Selling price: $755,000 (July, 2022). ‘There were some townhouses with outdoor space or rooftop patios maybe one fourth the size, so there wasn’t a lot of direct competition for ours,’ said agent Joel Gwillim. ‘We had an offer fairly early on, but it was subject to a sale out east in Ontario, which was cooking and seemed like a no-brainer. But they couldn’t sell their home to facilitate the purchase here.'”

From Mansion Global. “Though prime property markets globally tend to offer a level of stability that the overall market does not, London’s high-end market has not been unscathed by the economic and political turmoil in the U.K. over the last few weeks, according to a report from LonRes. During the last seven days of September in London’s luxury market, the property data firm said the number of sales falling through jumped 88% compared to the same time last year, the number of price reductions spiked 76%, and the number properties withdrawn from the market increased 48%.”

“‘The events of the last two weeks have added an unwelcome degree of uncertainty to the U.K.’s economy and housing markets,’ Anthony Payne, managing director of LonRes, said in the report. ‘Prime London has not been immune to that uncertainty with evidence of more cautious buyers. Sales falling through, properties withdrawn from the market and price reductions all spiked in the week following the mini budget.’ ‘The relative value in [prime central London] compared to 2014 will underpin an overdue recovery in the medium term,’ Knight Frank said, referring to when the city’s market peaked.”

From Dutch News. “The average house sold for 5.8% less in the last financial quarter than between April and June, according to figures from estate agent association NVM. Its agents’ third quarter results are the first solid indication that the Dutch property market is taking a downturn, after months of fierce growth. The quarterly drop in prices registered by the NVM is the steepest it has ever measured in such a short period. At the end of 2021 the NVM, which monitors homes sold by its accredited agents, said house prices were growing year-on-year by 21.5%. That year-on-year growth has now plummeted to 2%.”

“Lana Gerssen, deputy chair of the NVM, said in a statement: ‘The figures for the third quarter of 2022 indicate that the extremely overheated market of the last one-and-a-half years has reached a turning point. ‘The quarter-on-quarter drop in prices that we have measured is relatively modest, compared to the extreme rises of recent quarters. However, we are still far from a normal market as the supply both in terms of numbers and types of houses is insufficient. The influence of increased mortgage interest rates, sky-high energy costs and inflation is taking the madness out of the market.’”

The Sydney Morning Herald in Australia. “During last year’s property boom, some families and first time buyers were borrowing to their maximum and then asking for help from the Bank of Mum and Dad, but attitudes had changed this year as repayments rise. Some, though, are still applying for as much as possible because the amount they can borrow has fallen faster than property prices have. Sydney-based Equilibria Finance managing director Anthony Landahl said buyers were much less willing to borrow their maximum, especially compared to last year when interest rates were at record lows.”

“‘What I guess has been happening, 12 months ago money was relatively cheap and people were trying to borrow to their maximum capacity to get into the market,’ Landhal said. ‘Now the market is coming off, people are very much more conscious of what their max is, and how much the repayments are, so they might not go to their maximum if they understand what the environment is.'”

“Vaughan Clark, senior finance broker with Clark Finance in Melbourne, said buyers were less willing to push themselves financially, especially if another rate rise was on the horizon. ‘People can’t go to the edge now,’ Clark said. ‘They’re putting themselves at risk if they borrow to the maximum.’ Dwelling values have fallen by 9.0 per cent in Sydney, 5.6 per cent in Melbourne and 4.3 per cent in Brisbane since their peaks, CoreLogic data shows.”

The South China Morning News. “Hong Kong property developers and agents are lobbying the government to scrap legacy stamp duties to avoid pushing homeowners into negative equity amid slumping home prices, a clarion call that is being dismissed by analysts. The city’s 1.4 million private property owners could face negative equity – when a home loan exceeds the market value of the property – if home prices fall further, said Stewart Leung, executive committee chairman of the Real Estate Developers Association (Reda), which represents the city’s biggest developers. ‘It will mess up the market,’ he said. ‘Even if home prices do not rise, do not let them fall.'”

“‘Many owners would rather change hands at a loss to cash out,’ said Louis Chan, chief executive of the residential division at Centaline. ‘Quite a few buyers who have entered the market with mortgages at a high loan-to-value ratio in recent years have fallen into a crisis of negative equity.'”

“For example, Cullinan West in western Kowloon saw a flat change hands at HK$32.5 million recently, for a loss of HK$10.49 million, according to Midland Realty. This year’s overall number of property transactions is expected to be around 64,000, the lowest in 32 years, said Freddie Wong, chairman of Midland Holdings. The sluggish transaction volume proves that the property market has entered an ‘ice age,’ and that the cooling measures launched earlier for the hot property market are out of date, Chan said.”

Related Posts
This Post Has 128 Comments

  1. ‘Other homes– same exact floor plans, are actually $50 – $60,000 less, and the builders haven’t been really working with the buyers at this point’

    They’re working all right – to fook the next idiot. This will continue.

    ‘They said one client ended up breaking their contract with the builder, and forfeiting their $25,000 deposit’

    Well it was cheaper than renting.

  2. ‘Even if home prices do not rise, do not let them fall’

    Denial
    Anger
    Bargaining <- Stu you are here.

    2. Maybe if Stewart and everyone else takes their transistor radios outside, tunes them to the same channel and turn up the volume…

  3. ‘By May, Merrell knew trouble was brewing’

    Now wait just a dog gone minute. They have a UHS COMMITTEE in Denver. Shirley they would have said something in May?

    ‘when she had to cut a home price by $20,000 to get the property sold. In August, she lost $8,000 on another house as the market deteriorated’

    Yer giving it away Tammie! I knew these shortsighted perma bears would cave.

  4. He’s managed to sell most of them but says he expects to lose around $1.3 million — if he’s lucky. ‘I know a lot of investors who are getting hammered’

    Catherine at the Arizona Republic is currently hiding behind a pay wall, but maybe she can stick her head out and address this appalling state of affairs. Catherine?

    Bueller?

    1. “Phoenix property investor Ben Arredondo has had to slash prices after the slowdown caught him mid-flip on 27 houses.

      But muh shortage!!1!!1!!!111!!!11!1!!1!!!!

  5. ‘In Sisters, the median sales price was $590,000 in September, a decline from August when it was $730,000’

    ‘Reno peaked a month later in June at $635,000. Reno and Sparks have seen median home prices steadily decline since then, however. By September, Reno was down to $540,000’

    Good thing everybody put 50% down.

  6. ‘people selling their house might feel differently; they are likely getting less money than they would just one month ago, Enrico-Crum said. She said people who bought their houses this year need to wait about three to four years before they sell to see any substantial equity gain’

    Becky is another perma bear! Damn yer eyes!!

  7. ‘The influence of increased mortgage interest rates, sky-high energy costs and inflation is taking the madness out of the market’

    This CCP virus boom got out of hand. I’m still scratchin’ my head wondering how a minor respiratory illness could cause such mayhem.

    1. The Financial Times
      International Monetary Fund
      IMF’s gloom highlights scale of policymakers’ challenges
      Trade-offs between governments and central banks are becoming increasingly difficult to manage, officials warn
      A man walks with a shopping cart through the Paloquemao market square in Bogota, Colombia, on October 7 2022
      The ‘darkest hour’ lay ahead for world economies, the IMF warned
      Colby Smith and Chris Giles in Washington yesterday

      After the outbreak of war in Ukraine, inflation spiralling dangerously out of control and punishing waves of coronavirus infections and lockdowns, the IMF this week had more bad news: the pain is far from over and the worst is yet to come.

      At the onset of its annual meetings, held jointly with the World Bank, the multilateral lender warned that the “darkest hour” lay ahead. Next year could feel like a recession in much of the world and further sell-offs in markets could not be ruled out.

      The twin threats — to growth and financial stability — underscored the enormity of the challenge facing policymakers from central banks and finance ministries that are gathering in Washington, over the coming days.

      “Downside risks remain elevated and policy trade-offs are becoming hugely challenging,” Pierre-Olivier Gourinchas, the IMF’s chief economist, told reporters on Tuesday. “The risk of monetary, fiscal or financial policy miscalibration has risen sharply at a time of high uncertainty and growing fragilities.”
      …

  9. Gov. Ron DeSantis has the Sanibel Causeway open for emergency traffic.

    Meanwhile back at the ranch, the pile of storm yard trash in front of my house that Waste Management informed me FEMA would be picking up is now one big dead branch & leaf pile of beaver dam looking Raccoon Condo waiting to be measured for Christmas lights.

    Florida’s Rapid Recovery: Sanibel Causeway Damaged by Hurricane Ian to Reopen

    NNAH BLEAU
    11 Oct 2022

    The Sanibel Causeway, which was damaged by Hurricane Ian, will reopen to civilians this month and is already opened to emergency vehicles, Gov. Ron DeSantis (R) announced on Tuesday.

    The Sanibel Causeway, which connects Sanibel Island and Captiva to Florida’s mainland, collapsed and was damaged in three different areas due to the massive Category 4 storm, which hit Florida’s west coast before exiting on the east coast and making a second U.S. landfall:

    https://www.breitbart.com/politics/2022/10/11/floridas-rapid-recovery-sanibel-causeway-damaged-by-hurricane-ian-to-reopen/

    1. Florida is BASED.

      Washington Post — Experts slam Florida surgeon general’s warning on coronavirus vaccines (10/11/2022):

      “More than a dozen experts interviewed by The Washington Post — including specialists in vaccines, patient safety and study design — listed concerns with Florida’s analysis, saying it relies on information gleaned from frequently inaccurate death certificates rather than medical records, skews the results by trying to exclude anyone with covid-19 or a covid-related death, and draws conclusions from a total of 20 cardiac-related deaths in men 18 to 39 that occurred within four weeks of vaccination. Experts noted the deaths might have been caused by other factors, including underlying illnesses or undetected covid.”

      https://archive.ph/z2ual

      COVID “vaccines” are not vaccines they are deadly experimental mRNA poison that is designed and intended to kill you.

      Just found out yesterday an old roommate that I haven’t been in touch with for a few years died. We lived together off campus at Football Factory State University.

      Dead in his 40s, probably from the mRNA injections…

      1. “More than a dozen experts interviewed by The Washington Post — including specialists in vaccines, patient safety and study design”

        “There are 50 former national intelligence folks who said that what he’s accusing me of is a Russian plant,” Biden said at the debate.”

        “Joe Biden leaned heavily on a letter from former U.S. intelligence and defense officials in Thursday night’s debate to argue that Russia orchestrated a disinformation operation allegedly involving damaging information obtained from his son’s laptop”

        By Annie Linskey and Paul Sonne
        October 24, 2020

        1. 50 former national intelligence folks

          I was always amazed at the logical disconnect. Former intelligence, as in not intelligence folks now. What, do they have a newsletter for all the retirees and has-beens briefing them on the latest top secret intelligence? Maybe they gather at the local diner for coffee and stories at 6 AM like a bunch of old farmers?

          1. Yeah I always found it shocking retired folks somehow get the morning email round-up.

            Further, let’s say they did get that privileged information, why would they be allowed to publicize it?

            The whole thing was a crock.

        2. And those 50 “experts” are probably allies of Biden anyway, signing their name to anything some operative wrote for them. Just another example of people trading on their position or education for vendettas.

      2. “Just found out yesterday an old roommate that I haven’t been in touch with for a few years died.”

        Did he leave behind a pretty widow with a life insurance policy?

  10. Given how the cryptocurrency boom was driven by a low rates environment, are young investors misguided in expecting a recovery?

    1. Rich Millennials Have Lost Confidence In Stock Market, BofA Says
      October 11, 2022 • Katherine Doherty, Nur Dayana Mustak

      Wealthy young Americans have lost confidence in the stock market as a primary vehicle for creating wealth and are increasingly turning to alternative investments to fund their futures, a Bank of America survey has found.

      Individuals ages 21 to 42 with at least $3 million in assets have only a quarter of their portfolio in equities, compared with more than half for those who are older, according to the study, which was released Tuesday.

      Wealth managers have traditionally recommended more stock market exposure for young people, given their longer investing window. That’s worked historically, with the benchmark S&P 500 posting an annualized average return of almost 12% from its inception in 1957 through the end of 2021. Since the beginning of the year, however, the index has tumbled 24% amid turbulent markets and rising inflation.

      The lack of faith in equities indicates that younger generations increasingly think “a traditional portfolio of stock and bonds is not going to deliver above-average returns over time,” Jeff Busconi, chief operating officer at Bank of America Private Bank, said in an interview. “We’ve had a very strong run in the stock market over the last decade and are now living through volatile times. That’s on the front of people’s minds.”

      The young and wealthy instead see more potential in assets like cryptocurrency, real estate and private equity. The Bank of America study, which surveyed 1,052 people with investable assets of more than $3 million, found that younger people allocated 15% of their portfolio to digital currencies, compared with just 2% for older respondents.

      “It’s something we’re watching, but exposure to crypto is still relatively low among our client base,” Busconi said.
      …
      https://www.fa-mag.com/news/rich-millennials-have-lost-confidence-in-stock-market–bofa-says-70086.html

  12. “After an abrupt end to the US housing boom, home flippers who were winning big just months ago are now racing to stem losses. It’s a swift turnabout for flippers such as Tammi Merrell, who’s stuck with homes to sell and loans to pay.

    Die, speculator scum.

    1. “It’s a swift turnabout for flippers such as Tammi Merrell, who’s stuck with homes to sell and loans to pay.”

      I grew up watching Flipper on TV, an aquatic mammal. Tammi the flipper, on the other hand, is a big fish.

  13. ‘It’s a constant dance — do I wait it out or do I price drop? Both cost money.’”

    The schlongings only get more brutal from here, Tammi with an i.

  15. ‘Savvy homebuyers are finding excellent opportunities among the homes available for purchase across various price ranges,’ said RSAR president Sarah Scattini.”

    Those aren’t “savvy homebuyers.” They’re stupid knife catchers.

  16. She said people who bought their houses this year need to wait about three to four years before they sell to see any substantial equity gain.”

    At the rate we’re going, things will be full Mad Max by then and shacks will be changing hands for a fraction of today’s notional Yellen Bux valuations.

  17. but have heard some builders are selling at almost cost just to keep cash flow going, hoping to ride things out.
    Margins on mortgage rates/fees have also been falling in an effort to try and keep cash flowing/volume up. Put another way, the mortgage companies have been eating some of the interest rate increase by lowering their margins. I gotta believe margins are pretty damn thin now so any and all interest increases are going to have to go directly into the rate/fees the client pays.

  18. Across the Coachella Valley, the median price for a detached home fell by about $12,000 to $670,000 in September. </em

    Gosh, I don't pay nearly that much in monthly rent.

    1. “Across the Coachella Valley…”

      Talk about a bifurcated place, the air conditioned rich and the hordes of poor, manicured green lawns vs kochia weeds. This is where Jeremiah Babe hails from, and Cesar Chavez and his United Farm Workers developed traction across the Ag industry, IIRC.

  19. During the last seven days of September in London’s luxury market, the property data firm said the number of sales falling through jumped 88% compared to the same time last year, the number of price reductions spiked 76%, and the number properties withdrawn from the market increased 48%.”

    Is that a lot?

  20. With all the continuing focus on housing prices at the top or falling, there’s rarely any data following on the price/income or debt/income ratio. Those are critical data points to ponder.

  21. Contrast the free pass for Hunter Biden with what would’ve happened if Eric Trump would’ve lied on a gun purchase form.

    Did Biden ADMIT Hunter lied on his gun purchase? President gives confusing answer acknowledging troubled son checked ‘no’ when asked if he was hooked on drugs – as DOJ considers federal charges

    https://www.dailymail.co.uk/news/article-11307179/Joe-Biden-gives-confusing-answer-admitting-son-Hunter-lied-gun-purchase-form.html

  23. Is the gilts bailout at the Bank of England on or off?

    For readers who don’t care, I have news for you: these overseas financial ructions affect US housing as collateral damage, through their effects on US Treasurys and, by extension, mortgage rates.

    1. The Financial Times
      Bank of England
      Gilts sell off as Bank of England reiterates plan to end bond-buying scheme
      Central bank says programme will end on October 14 following mixed signals
      The Bank of England building
      The Bank of England building in London. Governor Andrew Bailey warned pension funds late on Tuesday that they had ‘three days left’ before support ended
      Tommy Stubbington, Adam Samson and Jasmine Cameron-Chileshe
      19 minutes ago

      A sell-off in UK government bonds accelerated on Wednesday, sending long-term borrowing costs higher after the Bank of England reiterated its plans to halt its emergency gilt-buying scheme as scheduled on Friday.

      The central bank said on Wednesday morning that it “has made clear from the outset, its temporary and targeted purchases of gilts will end on 14 October”.

      The BoE added that it had “made absolutely clear in contact with the banks at senior levels” that it would end its scheme this week. The Financial Times reported earlier on Wednesday that BoE officials had briefed lenders in private that it was prepared to extend the programme beyond Friday’s deadline if market volatility flares up again.

      The UK 30-year yield rose 0.2 percentage points to 5 per cent, as selling gathered pace after the BoE’s announcement. Long-term yields are now closing in on levels that prompted the central bank to launch its initial intervention in the gilt market on September 28. Bond yields rise as their prices fall.

      The latest bout of selling comes after BoE governor Andrew Bailey warned pension funds late on Tuesday that they had “three days left” before support ended.

      “The lack of certainty is creating real challenges [for trustees],” said Andrew Coles, chief executive of Isio, a pension advisory firm. “On the one hand we have an official line which is the deadline is Friday, then stories leak through that if the markets react we might step in. This does not give certainty for trustees and schemes trying to prepare.”
      …

    2. Add the Fed sending $3.1B to Swiss National Bank as Credit Suisse lists the Savoy Hotel in Zurich for sale.

  24. Denver7 — Experts see dramatic increase in behavior issues at school post-pandemic (10/11/2022):

    “Reports of behavior and mental health issues in schools have seen a dramatic increase following the pandemic.

    A new report from the statewide Safe2Tell program shows an 89% increase in reports of possible safety issues to students in the month of September, and nearly nine in 10 public schools reported negative impacts to students social and emotional development last school year.

    Mental health experts tell Denver7 they expect to see negative effects from the pandemic surface for years to come.”

    https://www.denver7.com/news/local-news/experts-see-dramatic-increase-in-behavior-issues-at-school-post-pandemic

    Remember, CCP Flu didn’t close schools. Government closed schools.

    Happy *THIRTY ONE MONTH ANNIVERSARY* of “two weeks to flatten the curve”

  25. Rejoice, NYC libtards! You will soon have the opportunity to reap the bountiful blessings of open borders, multiculturalism, and vibrant cultural enrichment! Nothing like being able to put your collectivist principles into action, ay, Bolsheviks?

    NYC Mayor Eric Adams warns that emergency migrant shelters will open in ‘every community’ in the Big Apple and that residents should expect to see them ‘without warning’ as shelter capacity nears 100%

    https://www.dailymail.co.uk/news/article-11305599/NYC-Mayor-Eric-Adams-warns-emergency-migrant-shelters-open-community.html

    1. Declare you’re a sanctuary city, expect to provide sanctuary. And I’ve noticed that the migrants are coming from farther south now, like Venezuela. I guess Central America has emptied out entirely.

  27. Linked from Revolver News.

    Judicial Watch Uncovers Biden Administration Propaganda Plan to Push COVID Vaccine (10/4/2022):

    “Judicial Watch announced today that it received 249 pages of records from the Department of Health and Human Services (HHS) detailing the extensive media plans for a propaganda campaign to push the COVID-19 vaccine.

    The records were received in in response to an August 2021 Freedom of Information Act (FOIA)lawsuit filed after HHS failed to respond to a April 19, 2021 request for records related to the Biden HHS’ “COVID-19 Community Corps” program (Judicial Watch v. U.S. Department of Health and Human Services (No. 1:22-cv-02315)).

    Judicial Watch is asking for all records regarding the application process; all organizations asking to be chosen to participate; all grants; and all communications of representatives of the Department of Health and Human Services regarding the program.”

    https://www.judicialwatch.org/covid-19-vaccine-campaign/

    It’s a medical genocide.

  28. Will the DNC’s FBI Chekists ever be held accountable for their targeting of Deep State political opponents?

    Durham witness: FBI offered Steele $1M for proof of dossier claims, but he had none

    https://www.washingtonexaminer.com/news/justice/john-durham-witness-fbi-offer-proof-christopher-steele-dossier

    ALEXANDRIA, Virginia — The FBI offered British ex-spy Christopher Steele an “incentive” of up to $1 million if he could prove the allegations in his since-discredited anti-Trump dossier, but the former MI6 agent was unable to back up his claims, according to new court testimony.

    The bombshell revelation came during special counsel John Durham’s false statements trial against Steele’s main dossier source, Russian-born lawyer Igor Danchenko, who has been charged with repeatedly lying to the bureau about his sourcing for information he provided for the dossier in 2016. Danchenko has pleaded not guilty.

    1. for their targeting of Deep State political opponents

      In this case, sedition against the sitting President.

  31. Inspired by Margot Robbie, I will shortly be releasing the first in a series of “Boo Randy in a Bathtub” videos explaining how fraudulent our financial system has become. Ben Jones, please invest in major upgrades to your servers to handle the millions of new female viewers this series will surely attract to the HBB.

    The Big Short (2015) – Margot Robbie in a Bubble Bath Scene (1/10) | Movieclips

    https://www.youtube.com/watch?v=1Rhs3PVAP4o&t=30s

  32. “In Redmond, the median single-family home price was $525,000 in September, $17,000 lower than it was in August. A year ago, the median sales price was $450,000, according to the report.”

    This is not Redmond, WA the home of Microsoft. There isn’t much in Redmond, OR, which is surrounded by nothing that will support a mortgage of $500k plus. If ‘yer stacked you might pull down some decent tips working the gourmet coffee drive-thru. This place is a fast food and restroom pit stop for north/south travelers on the two lane hwy 97.

    Here’s their wiki page:
    https://en.wikipedia.org/wiki/Redmond,_Oregon
    *scroll down to Economy 🙂

    1. Maybe if you put in some overtime at the call center you can pull down enough income for that 450k mortgage.

    2. It looks like desert land that has no real value. It is amazing to me that no one seems to be able to do basic math anymore. A plywood box on a small patch of desert really doesn’t cost much to make. One thing I’m curious about is artificial scarcity there. In much of the west (and the ‘nice’ parts of OR) the land is artificially scarce because the federal government owns so much of it through national forests and other set asides. I’m not familiar with eastern Oregon but is that desert land there mostly available or is it locked up?

      1. I’m not familiar with eastern Oregon but is that desert land there mostly available or is it locked up?

        The game changer out west (in the arid places) are water rights. No water rights == worthless land.

  33. Hey Brandon: maybe your crack economics advisors can explain to you the significance of the PETRODOLLAR and what happens if/when Yellen Bux lose their world reserve currency status. If you think your polls suck now, wait’ll you & your economic brain trust cause a dollar collapse.

    BREAKING NEWS: Biden tells Saudi Arabia there will be ‘CONSEQUENCES’ for ‘what they’ve done with Russia’ – and insists his MBS meeting was NOT about oil

    https://www.dailymail.co.uk/news/article-11304803/Biden-reevaluating-US-Saudi-relationship-amid-Democrat-anger.html

    1. I wonder if this might have any impact on US-Saudi relations:

      Blinken: I press Saudis on LGBTQI issues ‘in every conversation’

      1. I find it amusing that the US, which has approached the Saudis, hat in hand begging for oil thinks it is in a position to dictate orders to them. Have Biden’s handlers never heard of the OPEC oil embargo?

      2. This is a globalist scum operation. There’s no groundswell of support for these freaks and perverts. I watched the president of some African county tell Amanpour ‘we have hungry people… we don’t care about these issues.’ She just wouldn’t let it go, and he didn’t back down. This is not Rosa Parks. We should recognize it for what it is and push back hard.

        1. She just wouldn’t let it go, and he didn’t back down.

          People around the globe are going to cheer when the American Empire, and with it GloboHomo, collapse and are consigned to the dustbin of history. That nations are increasingly siding with BRICS as a way to get away from us (which the MSM does not report) tells me that the end might be closer than we think.

          2. Even after a minutes I noticed one thing: all the women were expected to unnaturally thicc and beautiful, and all the men demanding this beauty were UGLY AS FUUUUUQ.

    2. The original purpose of the petrodollar was the protection of the Saudi Kingdom. Who’s going to protect the Saudis if the US doesn’t? Putin? Yeah, him and what army? China? Too far. Can the Saudis protect themselves?

      As for cheering on the fall of the US, global countries don’t know how good they had it. With the US protecting the global ocean trade, these countries are able to trade their cheap labor for food from abroad, without fear of it being pirated in transport. What will happen if/when the US pulls its support?

      1. “Can the Saudis protect themselves?”

        Saudi Arabia is a target rich environment waiting for a few cruise missiles to happen, which will put them out of business.

  34. This lawsuit has no merit, since anyone who “invests” in skyboxes in Democrat-Bolshevik malgoverned municipalities like SF should have no reasonable expectation that developers or building inspectors are anything other than corrupt and incompetent.

    Developer of luxury San Francisco apartment tower is sued by over 50 residents who say they were left homeless and broke after TWO huge floods dumped 20,000 GALLONS of water from rooftop pool destroyed 35-story building

    https://www.dailymail.co.uk/news/article-11305027/San-Fran-tower-developer-sued-residents-say-left-homeless-TWO-floods-pool.html

    More than 50 residents of a San Francisco luxury apartment are suing the building’s owner after they were left homeless due to two massive leaks from its rooftop pool.

    At least 400 tenants were displaced from 33 Tehama, a 35-story apartment complex, following two leaks over the summer that dumped 20,000 gallons of water into the high-end rooms and hallways.

    The plaintiffs are now demanding Hines, the property’s management company, pay damages to each of them for alleged chronic mismanagement and deceit.

  35. A reader sent these in:

    Long-term UK Gilt bonds have posted a total return of -52.3% since Dec 2021. An entire decade of gains wiped out.

    https://twitter.com/LizYoungStrat/status/1579849188090974208

    12 years of investing in Chinese equities in one chart 👇

    https://twitter.com/MichaelAArouet/status/1579805934444220417

    German mortgage rates keep rising leading to many construction projects being halted. 10y mortgage rates (so-called Pfandbrief) now at 3.39%, highest since 2011.

    https://twitter.com/Schuldensuehner/status/1579730380932153344

    Imagine living in this house, owning multiple rentals, driving a bentley, working as a lawyer doing 200 cases a month & then protesting to the govt about being discriminated against for being a homeowner due to ⬆️ rates. That is Honveer for you. 🤡

    https://twitter.com/RE_MarketWatch/status/1579308101639208962

    I did some digging on members of the “homeowners” protest group. Vast majority are in the RE industry. These are just 38 out of 49 that I reviewed so far. Media needs to start referring to them as “speculators” not homeowners.

    https://twitter.com/RE_MarketWatch/status/1579838111601000449

    FED’S MESTER: THE FED HAS MADE NO PROGRESS IN LOWERING INFLATION.

    Translated: brace yourselves for tomorrow’s data

    https://twitter.com/AlessioUrban/status/1579865214522372097

  36. Pension funds represent the last great pool of wealth for private equity firms to jam their blood funnels into. UK olds who spent their working careers electing globalist Quislings and tools of the financier oligarchy are going to get exactly what they deserve when they learn their pension funds are insolvent.

    Fresh fears for pension funds in new market meltdown as BofE insists bailout WILL end on Friday – while chaos triggers furious blame game and Bank is accused of incompetent mixed messaging

    https://www.dailymail.co.uk/news/article-11306363/Fury-BoE-governor-Andrew-Bailey-Pound-plunges.html

  37. ‘Big Short’ investor Michael Burry points to the steep drop in ARKK stock – and says Cathie Wood’s flagship fund was always bound to collapse in value
    Theron Mohamed
    21 hours ago
    – Michael Burry took aim at Cathie Wood’s flagship Ark Innovation ETF in a tweet.
    – The “Big Short” investor highlighted the collapse in its stock to pre-pandemic lows.
    – Burry predicted Wood’s outperformance wouldn’t last and bet against her fund last year.
    …
    https://markets.businessinsider.com/news/stocks/big-short-michael-burry-tweets-cathie-wood-ark-tech-stocks-2022-10

  40. HuffPaint — Here’s What To Know About The Latest Omicron Subvariants (10/11/2022):

    “The news of an emerging COVID-19 variant or subvariant is alarming — and rightfully so. COVID completely upended our lives and has killed more than 1 million Americans since 2020. It’s hard not to worry when you hear about a new ― and often more contagious ― strain of the virus.

    The latest concern comes from news about subvariants including BA.2.75, BA.2.75.2, BF.7 and BA.4.6, all of which have appeared in headlines in recent weeks and will likely be topics of concern in the coming weeks, too.”

    https://www.huffpost.com/entry/covid-omicron-subvariants_l_634074bfe4b0b7f89f4bae5d

    “October Surprise” just in time to steal the midterm elections.

    1. Note: this article is from October 4th, but it has been bumped back to the main website, which usually only features articles published in the past week or less.

      I NOTICE THESE THINGS.

      Salon — Rising cases of variants BQ.1 and XBB could make COVID drugs all but useless, study finds:

      “The two subvariants of particular concern are known as BQ.1 and BQ.1.1, both off-shoots of the omicron variant BA.5 (but with several key changes.) Indeed, they seem able to evade many of the tools we have to defend against it, which could trigger a wave of hospitalizations, disabling victims with long COVID or death.”

      https://www.salon.com/2022/10/04/bq1-xbb-variants-resistant/

      These pearl clutchers will never let go. Mass Formation Psychosis is one hell of a drug.

      1. I share these articles so we can know what we’re up against with the globalist scum media.

        The Atlantic — Medium COVID Could Be the Most Dangerous COVID (10/11/2022):

        “I am still afraid of catching COVID. As a young, healthy, bivalently boosted physician, I no longer worry that I’ll end up strapped to a ventilator, but it does seem plausible that even a mild case of the disease could shorten my life, or leave me with chronic fatigue, breathing trouble, and brain fog. Roughly one in 10 Americans appears to share my concern, including plenty of doctors. “We know many devastating symptoms can persist for months,” the physician Ezekiel Emanuel wrote this past May in The Washington Post. “Like everyone, I want this pandemic nightmare to be over. But I also desperately fear living a debilitated life of mental muddle or torpor.”

        https://www.theatlantic.com/health/archive/2022/10/covid-symptoms-medium-term-post-infection-complications/671684/

        Blue Checkmark, NPC, Reddit “karma score” et cetera.

        And an image file re-post just for the LOLZ:

        https://ibb.co/VBfQYhy

        “They’re not sending their best”

        1. As predicted by many, the medical fraudsters have to cover up the massive death and injury from the fake vaccine by claiming that a new strain of Covid is causing the damage.
          Censor any Doctors and Scientists , or data that disputes their fraud narratives.

          At the same time escalate War, while energy is withdrawn to cause famine and freezing and dysfunctional societies.

          Just as the Covid Pandemic global lockdown wasn’t justified , or any of the measures taken, taking away energy without proper replacement is not justified , as another act of mass destruction to the global Citizens.
          They have gone operational on this take over of current systems , for this One World Order Dictorship, Great Reset, apparently that includes mass genocide as part of the agenda .
          Will the Citizens of the globe finally reject this outrageous and evil assault on humanity ?

        2. The last time I caught a serious flu was 2016. I was horribly ill for five days and missed work the entire week. My couch lingered for about two months.

          I caught the Covid in 2022 and was horribly sick for one day. I took one day off work then proceeded to work from home afterward. My cough lingered for about one month.

          What I don’t understand is why ‘doctors’ pretend the common flu does not have long-term impacts on a person.

          1. “What I don’t understand is why ‘doctors’ pretend the common flu does not have long-term impacts on a person.”

            Age and existing comorbidities play a huge role in the impacts of lung diseases, which are some of the most common medical conditions.

        3. I wonder if this is the same Dr. Ezekiel Emanuel who is Rahm Emanual’s brother and stated years ago that there’s no reason for anyone to live past the age of 75!

          2. “…no reason for anyone to live past the age of 75!”

            There’s very few, if any, morbidly obese 75-yr olds.

      2. A couple of years ago I was in this small city. The news came on saying the local hospital was ‘overwhelmed’ with CCP virus. Just so happened I had to help someone go to the emergency room (the only one) that very day for a cut to the hand. There was hardly anyone there and none of them with sniffles. This is a giant hoax.

        1. Our local hospital system was supposedly overwhelmed also. They have a website that shows staffing and bed utilization. Staffing had been greatly reduced making bed availability go way done. They were never overwhelmed, they simply sent nurses home.

        2. “But I also desperately fear living”

          Translation: I fear living.

          This coming from a physician who is “boosted” with the newest batch of mRNA poison.

        3. I used to jog near a major hospital during spring and summer 2020. I never saw the parking lot full. Ironically, it was always full before the Covid because the hospital staff went to work daily and actually did medical stuff like surgeries and examinations.

        4. I was reading about a hospital that spent nearly $10 million turning a several story open air parking garage into a makeshift COVID ER with all of the associated equipment. They never even used it and the CEO was just fired in the past year.

          This entire scam just goes to show how corrupt the USA has become, and how these globalist scvm have been able to control the narrative.

      3. I find it quite interesting that they no longer release any data about percentage of hospitalized patients who are vaccinated vs not vaccinated. I’m gonna go out on a limb and say the purebloods are probably handling each new variant much better than the “bivalently boosted”, perpetual mask-wearing crowd.

        1. I’m renovating a tenant suite in a building full of doctor and dentist offices, near Cherry Creek / Glendale.

          So many mask freaks in and out of the building all day. I won’t ride the elevator with a mask freak, and I won’t acknowledge someone speaking to me who has that badge of Mass Formation Psychosis strapped to their face.

        2. Historically, mutations become less lethal.
          I always knew they were going to use this variant strain narrative to keep this Covid fraud going and going and going.
          This is why they have to censor doctors and Scientists and data that dispute the narratives.
          Everything they have done and said has proven to be a fraud and they are just making this shit up.

          Joe Biden told the Nation that the vaccine would prevent you from getting Covid and it was safe and effective. He proceeded to mandate vaccines , or you will lose your job. He demonized and discriminated against the unvaccinated, and claimed Covid was a disease of the unvaccinated.

          Unfortunately they have extorted or bribed the entire medical industry to support and cover up all aspects of this Covid fraud, using tax dollars to do it.
          Newsom put into law, that any California Doctor who disputes the official narratives are subject to punishment .
          The lethal expiermental vaccines are still on the market, and people are still being mandated to take the jab, or lose their job. They won’t release the Emergency Declaration of a Pandemic of Covid and they won’t stop the medical tyranny.
          You Judge something by the fruit it bears, and this is pre planned evil that knows no bounds.
          The only thing that can stop them is mass rejection by the Citizens of the globe, without Citizens turning on each other.
          The enemy would love to incite Civil Wars, anything to further the bizarre evil take over they have planned for decades.
          Hard to believe, but what else explains the insanity we have been subjected to .
          It certainly isn’t praying Christians or Trump voters that are the threat to democracy or sanity.

        3. saw a meme today that said

          Not one of us who didn’t take the shot has any regrets. Not one.

          Must suck for those who did take the deathshot and destroyed their immune system.

          1. Funny story. I took the J&J because I had a strong incentive to cross into Canada. That was in April 2020. They still didn’t let me cross until August 2021. Anyway, I had a problem with a tooth the beginning of this summer but the flair up faded by the time I got to the dentist. He didn’t want to do anything drastic at the time. I was going cruising, summer on my boat somewhere out there, and asked him for a script for antibiotics just in case. It can take time to get to a dentist when you’re “out there”.

            It flared up. I took the antibiotics. I got deathly ill, and had hives and swelling from the top of my head to the soles of my feet. I’ve never been allergic to anything my entire life before this. I had some meds aboard which may have helped me, but it took three days. I’m told that if the swelling had gone to my throat I’d have been a goner.

            Could this be the dreaded immune system berserk adverse reaction? No way for me to know.

          2. My daughter just hired on with the county’s prosecutor’s office, and a fresh covid booster was a mandatory condition of employment.

          3. a fresh covid booster was a mandatory condition of employment

            How many has she had now? Does she want children?

          4. My daughter just hired on with the county’s prosecutor’s office, and a fresh covid booster was a mandatory condition of employment.

            No jab, no job is still quite real

          5. “How many has she had now?”

            That’s the second booster.

            “Does she want children?”

            I dunno, but I hope she’s married first.

    2. Quote from a Deseret News article: The immunity people have built up from vaccinations and infections will likely continue to offer strong protection against severe outcomes for most, particularly if they’ve stayed up-to-date with boosters.

      Translation — eventually it will settle on being another cold.

      2. Translation — eventually it will settle on being another cold.

        I’m starting to feel like I’m living in a dream or something. I’ve been hearing about this “it” for over 2 1/2 years, have never been vaxxed, have gone about my life as I always have, and NEVER got it. Not only that, I know NOBODY who has died from it.

  41. Oh dear…it seems that the globalist looting colonies of Australia, New Zealand, and Canada will be leading the cratering as the central bankers’ insane housing bubbles implode under the weight of their own debt, fraud, and fictitious funny money valuations.

    House prices see ’fastest decline on record’ as they drop across all major cities

    https://www.news.com.au/finance/economy/australian-economy/house-prices-see-fastest-decline-on-record-as-they-drop-across-all-major-cities/news-story/39f0ecdcba976083bb83d1923ed7ff49

    House prices across all of Australia have seen a massive drop and all signs point to it being the largest house prices correction on record.

  42. “‘We have hard-money loans with 10% to 14% interest rates,’ Merrell said. ‘It’s a constant dance — do I wait it out or do I price drop? Both cost money.’”

    – A nation if shack gamblers. I call.

    The Gambler
    Kenny Rogers

    “If you’re gonna play the game, boy
    You gotta learn to play it right”

    “You got to know when to hold ’em
    Know when to fold ’em
    Know when to walk away
    And know when to run
    You never count your money
    When you’re sittin’ at the table
    There’ll be time enough for countin’
    When the dealing’s done”

    “Every gambler knows
    That the secret to surviving
    Is knowing what to throw away
    Knowing what to keep
    ‘Cause every hand’s a winner
    And every hand’s a loser
    And the best that you can hope for
    Is to die in your sleep”

  43. ‘Savvy homebuyers are finding excellent opportunities among the homes available for purchase across various price ranges,’ said RSAR president Sarah Scattini.”

    The savvy homebuyers won’t be calling for about 24 months, minimum.

  44. Rents are falling a little bit where we live, which is good news. Hopefully by next summer they’ll have fallen even more.

  48. RINOs gonna RINO.

    Politico — Kinzinger endorses Dems in major governor, secretary of state races (10/11/2022):

    “Kinzinger (R-Ill.) endorsed four Democratic secretary of state candidates: incumbents Steve Simon of Minnesota and Jocelyn Benson of Michigan, along with Arizona’s Adrian Fontes and Nevada’s Cisco Aguilar, both of whom are running for open seats. Kinzinger’s endorsements, shared first with POLITICO, also include Democrat Josh Shapiro’s campaign for governor of Pennsylvania, where he would appoint the secretary of state if he wins.

    In an interview, Kinzinger said he chose 2022 endorsements partly based on where there are “going to be positions that, frankly, can be bulwarks to defend against a real constitutional crisis in 2024.”

    https://www.politico.com/news/2022/10/11/kinzinger-endorses-dems-in-major-governor-secretary-of-state-races-00061128

    The 2020 election was stolen.

  50. Sponsored content brought to you by Pfizer and Moderna.

    The Hill — FDA authorizes bivalent COVID boosters for younger children (10/12/2022):

    “The FDA’s decision grants Moderna’s request for authorization to administer its bivalent booster to children as young as 6 and grants Pfizer’s request to administer its own booster to children as young as 5.

    “Since children have gone back to school in person and people are resuming pre-pandemic behaviors and activities, there is the potential for increased risk of exposure to the virus that causes COVID-19,” said Peter Marks, director of the FDA’s Center for Biologics Evaluation and Research.

    “Vaccination remains the most effective measure to prevent the severe consequences of COVID-19, including hospitalization and death”

    https://thehill.com/policy/healthcare/3684463-fda-authorizes-bivalent-covid-boosters-for-younger-children/

      1. Wow you are good.

        Yes, as I found out recently from one of my older sisters, 63 years ago tomorrow my Irish grandmother gave my Irish mother 2 shots of whiskey before my Irish father whisked her off to the hospital (is it any wonder I landed in rehab at 28) to give birth to their fifth and final child, me. 🙂

  54. “Nuclear Power Goes Woke: Greta Thunberg Admits Keeping Plants Online Is A Better Option Than Coal”

    https://www.zerohedge.com/markets/nuclear-power-goes-woke-greta-thunberg-admits-keeping-plants-online-better-option-coal

    (here is a fun snip …)

    Climate activist Greta Thunberg – who, for some reason apparently has an opinion that matters on the topic – has officially handed down her latest determination on which types of energy are better than others to the eagerly waiting world leaders who take their policy cues from the teenager.

    This week Thunberg made the “headline” that nuclear is a better option than coal, something that has been obvious to anyone who has looked energy pragmatically, without fear of not being “woke” or “green” enough.

    Thunberg says in a forthcoming interview that it is a “bad idea” to turn off nuclear power stations if it means switching to coal, according to Politico on Tuesday.

Comments are closed.